Nomura comes close to toppling Espirito Santo Financial Group
Bloomberg reports that Nomura threatened to repayment of loan triggering default 

Recent cocos are cheap versus hybrids, says SG
Recently issued contingent capital securities (cocos) are cheaper than similar recently issued corporate hybrids on a fair value basis, according to quants a Societe Generale.

New style cocos trade higher but doubts remain
A recent splurge of Basel III-compliant cocos have risen in secondary markets as investors look to get a slice of the action

Central clearing costs nine basis points, says Deutsche Bank
The additional costs associated with central clearing of single name US CDS are nine basis points, calculates Deutsche Bank.

Credit market snapshot: Europe tightens as US takes pause
European spreads tightened yesterday as the US markets were closed to honour war veterans

Auction sets price for Codere CDS after two-day-late payment
Codere CDS auction sets recoveries in mid-50s, despite coupon payment

Credit market snapshot: European spreads tighten as US takes break
European credit markets tighten while US takes a break, in honour of all those still working

Credit market snapshot: Credit recovers as US high yield outperforms
US high yield names outperformed slightly to come under milestone amid general tightening  

Staples spreads jump out on stores closure
Staples misses estimates in earning release after closing stores, causing spreads to jump out 

Credit market snapshot: US HY underperforms as credit spreads widen
Major indices nudge wider with US high yield being the big underperformer

Credit market snapshot: US high yield outperforms on flat day
Markets change little, but US high yield manages to outperform and Europe moves out

Credit market snapshot: spreads widen on the week despite late rally
An end of week rally was not enough to reverse the sharp widening in credit in the early part of last week

Credit market snapshot: high yield leads markets wider on week
Markets end the week wider after a promising start, with high yield names in Europe and the US leading the way out. 

Central bank action drives up Japanese credits large and small
Japanese corporate credits have seen big moves since the Bank of Japan announced its massive monetary stimulus plan on Thursday

Credit market snapshot: Japan drives credit to post-roll tights
The Bank of Japan’s fiscal stimulus plan continued to drive most credit markets tighter yesterday

Credit market snapshot: US outperforms as spreads widen on the week
US credit outperformed Europe on the week as spreads pushed wider on both sides of the Atlantic 

Credit market snapshot: mixed week for US and European credit
Credit spreads inched wider for European corporates, but tighter for sovereigns; wider for US investment grade, but tighter for high yield. 

Credit market snapshot: credit continues to grind tighter
Credit grinds tighter and European crossover outperforms

Credit market snapshot: credit slips wider on UK and US speeches
Speeches from the heads of states in the US and the UK help push spreads wider

Credit market snapshot: credit largely flat on low volumes
Credit largely flat yesterday

Credit market snapshot: European and US credit diverge
European and US credit indices open week by moving in opposite directions

Credit market snapshot: credit opens week by moving tighter
Hopes of debt deals over Greece and US fiscal cliff drive credit tighter

Credit market snapshot: credit widens as stimulus hopes fade
Better-than-expected US economic data hits stimulus hopes

Credit market snapshot: credit tightens on stronger economic data
German growth figures and US retail sales figures better than expected